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The Times is continuing its series of briefings to coincide with Target
Two Point Zero, the Bank of England’s competition for sixth-formers.

A-level students are asked to take on the role of the Bank’s Monetary Policy
Committee, deciding how interest rates should move to keep inflation on
course to meet the 2 per cent target in the medium term. This week we look
at the labour market.

• What is happening?

Employment rose by 90,000 to just under 30 million in the quarter to November,
the highest level since 1971, while unemployment fell by 37,000 to 2.49
million, according to latest